Kore Private Wealth LLC boosted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,381 shares of the investment management company’s stock after buying an additional 750 shares during the quarter. Kore Private Wealth LLC’s holdings in Ares Capital were worth $615,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Wambolt & Associates LLC increased its position in shares of Ares Capital by 20.2% in the 2nd quarter. Wambolt & Associates LLC now owns 105,460 shares of the investment management company’s stock valued at $2,074,000 after purchasing an additional 17,754 shares during the last quarter. Sigma Planning Corp increased its position in shares of Ares Capital by 1.1% in the 2nd quarter. Sigma Planning Corp now owns 88,324 shares of the investment management company’s stock valued at $1,730,000 after purchasing an additional 984 shares during the last quarter. Wealthstar Advisors LLC purchased a new stake in shares of Ares Capital in the 2nd quarter valued at approximately $66,000. Neuberger Berman Group LLC increased its position in shares of Ares Capital by 5.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 696,120 shares of the investment management company’s stock valued at $13,637,000 after purchasing an additional 33,853 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Ares Capital by 2.7% in the 2nd quarter. Franklin Resources Inc. now owns 42,193 shares of the investment management company’s stock valued at $826,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 29.42% of the company’s stock.
ARCC has been the topic of a number of recent analyst reports. Raymond James increased their price objective on shares of Ares Capital from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, August 2nd. Royal Bank of Canada raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ares Capital has an average rating of “Buy” and a consensus target price of $20.00.
Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 27th. The investment management company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.10. Ares Capital had a net margin of 101.77% and a return on equity of 10.87%. The firm had revenue of $459.00 million during the quarter, compared to the consensus estimate of $385.97 million. On average, equities research analysts predict that Ares Capital Co. will post 1.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, September 14th. This is an increase from Ares Capital’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.82%. Ares Capital’s payout ratio is 94.25%.
Ares Capital Company Profile
Ares Capital Corp is a closed-end non-diversified management investment company. The fund targets companies operating in the fields of Health Care Services, Software & Services, Consumer Durables & Apparel, Energy, Food & Beverage, and Retail. It provides financing for buyouts, acquisitions, recapitalizations, restructurings, rescue financing, growth capital and general refinancing.
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